Genius X is launching its Initial Stake Pool Offering (ISPO) Starting on May 15, 2022
Aiming to revolutionize the business accelerator experience and provide unparalleled support for ambitious crypto startups, Genius X is raising funds through a public ISPO and helping foster innovation in the Cardano ecosystem.
Announcing Genius X ISPO.
Genius X is proud to announce the planned launch of its Initial Stake Pool Offering (ISPO) scheduled to begin from May 15, 2022, (Epoch 339) to September 12, 2022 (Epoch 363) and will last 25 Epochs.
The first snapshot will be at the beginning of Epoch 339.
As we will use live stake to calculate reward, people will need to stake during Epoch 338 starting May the 10th 21:45 UTC to be eligible for the first rewards on Epoch 339.
During the four (4) months ISPO period, Genius X will distribute 250 million $GENSX, equivalent to 25 percent of the total supply of 1 billion tokens, to ADA delegators. In each of the 25 Epochs, Genius X will reward a fixed amount of 10 million $GENSX across all four (4) stake pools.
Accumulated GENSX rewards will be calculated from aggregating stakes across all pools.
The Genius X ISPO will use the current Genius Yield ISPO Pools: GENS1 /GENS2 /GENS3 and GENSX.
GENS1/ GENS3 and GENSX will be 100% $GENSX rewards
Genius X and Iagon are partnering up for the Genius X ISPO
Genius X is proud to announce its partnership with Iagon — Iagon, part of the Genius X accelerator program aims to revolutionize the cloud by developing a Web3 storage platform and a processing platform where anyone can profit from shared resources.
Genius X and Iagon will distribute their tokens into the GENS2 pool for the entire Genius X ISPO through the GENS2 ISPO pool.
GENS2 will be a 50% $GENSX / 50% $IAG pool.
The IAG token rewards will follow the Iagon ISPO (started April 20th, 2022) reward conversion rate.
For a 50% pool, delegators will receive 0.01 $IAG / $ADA / Epoch.
To celebrate this partnership, Iagon will add a 2M bonus $IAG tokens for GENS2 delegators. Each Epoch an additional 80.000 $IAG tokens will be rewarded proportionally for all GENS2 delegators.
$IAG tokens from the Genius X ISPO will follow the vesting period as described in Iagon’s documentation
How to participate in Genius X ISPO ?
Current Genius Yield ISPO delegators don’t have to change their delegation to be part of the Genius X ISPO.
The Genius Yield ISPO is already a big success. By early April 2022, there were over 13,500 participants cumulatively locking over 2.5 billion ADA. The Genius X ISPO presents another opportunity for Genius Yield ISPO ADA delegators to earn more rewards.
New delegators can enter Genius X ISPO by staking to Genius X ISPO pools if the pools are not saturated. Any ADA added after saturation will not earn any $GENSX rewards for 100% Genius X pools nor $GENSX/$IAG Rewards for 50%$GENSX/ 50% $IAG pool (GENS2).
What are the benefits of staking into the Genius X ISPO ?
$GENSX is a utility token. Holders can stake $GENSX to receive a share of the platform revenue and clients’ tokens besides participating in governance and gaining early access to Genius X launchpad sales starting Q4 2022.
Genius X is also incentivizing ADA delegation by rewarding bonus NFTs whose utilities will be announced in the weeks ahead. The type of NFT awarded depends on the delegation period.
There are three categories of Utility NFTs:
- Titan NFTs will be awarded to users who stake at least 500 ADA for 21 epochs and more.
- Comet NFTs will be awarded to users who stake at least 500 ADA for 14 epochs and more.
- Vesta NFTs will be awarded to users who stake at least 500 ADA for a minimum of 7 epochs
About Genius X
Genius X is an accelerator program launched by the world-class team behind Genius Yield. Our goal is to foster innovations on Cardano by providing early-stage blockchain startups with all the tools they need to become successful.